Avicanna October Recap
A Monthly Overview of Avicanna’s Announcements
October was a breakthrough month for Avicanna as we continued to execute on our business plan and achieved a number of major milestones.
The achievements include the first USDA organic certification in Colombia for our hemp and the launch of Aureus Santa Marta, our raw material brand with the first commercial export of our own cannabinoids to both South Africa and UK. Additionally we are proud to announce the launch of Pura Earth with its initial retail roll out in Colombia as the first Colombian cultivated and produced finished cannabis products brand. Finally, we have began trading in the US with our listing on the OTCQX.
October 15, 2019
Avicanna Commences Trading on the OTCQX Market in the United States
- Avicanna common shares are trading on the OTCQX® Best Market in the United States under the symbol “AVCNF”.
- The OTCQX Best Market provides added service, value and convenience to U.S. investors, brokers and institutions seeking to trade Avicanna shares.
- To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
October 18, 2019
Avicanna (TSX: AVCN) Announces Receipt of the First Colombian USDA Organic Certification for its Hemp Cultivation and Registration of 15 Additional Genetics
- Santa Marta Golden Hemp S.A.S. (“SMGH“), a majority owned subsidiary of the Avicanna obtained a United States Department of Agriculture (“USDA“) National Organic Program (“NOP“) certification from Control Union Certifications, for its hemp cultivar, and has obtained registration for an additional 15 genetic strains of cannabis.
- Receipt of a NOP certification from the USDA for the cultivation of hemp (non-psychoactive cannabis) makes SMGH the first producer to receive this certification in Colombia.
- As a result, SMGH’s organic cultivation practices are now validated by the USDA, which positions Avicanna to provide certified organic hemp derivatives for use in supplements and food products produced or shipped to the United States.
- Avicanna received confirmation that SMGH has also obtained registrations for 11 strains of psychoactive cannabis and 4 strains of non-psychoactive cannabis. Following such registration, SMGH has a total of 14 registered strains of psychoactive cannabis and 5 registered strains of non-psychoactive cannabis.
October 21, 2019
Avicanna (TSX: AVCN) Announces Retail Launch of Pura Earth Derma-Cosmetics with Initial Roll-Out in Colombia
- Avicanna announced their retail launch of its Pura Earth™ derma-cosmetics line of CBD products, which are available at approximately 59 high-end retail locations throughout Colombia, including Blind prestige beauty shops and Cromantic professional beauty markets.
- Avicanna’s Anti-Aging Treatment, Anti-Aging Serum, Clear Skin Treatment and Intensive Skin Conditioning Treatment, which are the first four of the nine Pura Earth product lines, are currently available at retail.
- The registration of the Pura Earth products as final products in Colombia will enable Avicanna to export such products into international jurisdictions that permit such products.
October 24, 2019
Avicanna (TSX: AVCN) Completes First Commercial Exports of CBD to South Africa and the United Kingdom
- Santa Marta Golden Hemp S.A.S. (“SMGH”), Avicanna’s majority owned subsidiary, completed commercial exports of its Aureus™ brand of CBD-based products to South Africa and the United Kingdom.
- The Aureus brand of products include an organic and sustainable line of plant-derived active pharmaceutical ingredients and bulk CBD formulations.
- These initial sales included the export of CBD isolate and 4% bulk formulation for CBD oil sublingual sprays.
October 29, 2019
Avicanna Announces Voluntary Lock-Up Agreements for Key Insiders and Separation of CEO and Chairman Roles
- Avicanna’s executive officers and directors have entered into voluntary lock-up agreements to extend the term of their lock-up periods, affecting approximately 7.7 million shares.
- Each member of the board of directors has entered into voluntary lock-up agreements pursuant to which they will not sell, transfer or pledge any of their Avicanna securities prior to July 1, 2020.
- The executive officers have entered into voluntary lock-up agreements pursuant to which they will not sell, transfer or pledge any of their Avicanna securities prior to January 1, 2020.
- The Company’s board of directors also decided to separate the roles of Chairman and Chief Executive Officer. Mr. Azadian will continue as the Company’s Chief Executive Officer. Dr. Chandrakant Panchal, current independent Lead Director will become the Company’s Non-Executive Chairman.